Exide share face value split

Kolkata, Jun 16 (UNI) The Board of Directors of Exide Industries today proposed to split the company's ten-rupee face value share into ten shares of Re one each.

The split will raise the number of shares of Exide Industries by ten times, thereby offering better float and liquidity to the shares in the stock market. However, the change in the face value of the shares would not affect its total share capital of Rs 75 crore, company sources claimed.

"The split, if approved by the shareholders, is expected to add liquidity to the Exide shares in the stock market and we hope more people will be able to join the family of Exide shareholdrs," company's Executive Chairman and Chief Operating Officer S B Ganguly said.

The proposal will have to be ratified by the shareholders at the company's annual general meeting to be held later this year.

UNI KDG KK RD 1950